- $ Billion+ Won
- + Lawyers Nationwide
- The Fee is FreeTM, Only Pay If We Win
- America’s Largest Injury Law Firm
- Protecting Families Since 1988
Commercial Lease & Real Estate Litigation Lawyers in New York
Disputes concerning commercial and residential real estate are common. Real estate transactions can reach millions of dollars, especially in an expensive state like New York. It’s easy for disagreements to arise when a party doesn’t live up to their end of the bargain. A conflict can result in lost money or property that doesn’t align with expectations.
Real estate disputes are often complex matters involving lengthy contracts and multiple parties. Parties involved in the dispute need the assistance of experienced lawyers familiar with real estate law, including contracts, leases, construction, and negligence.
Commercial lease & real estate litigation lawyers in New York can help you resolve your dispute and obtain compensation for your losses. The team at Morgan & Morgan represents both buyers and sellers. We can assist you in conflicts involving commercial leases or real estate property. Contact our offices today to schedule your free case consultation.
Morgan & Morgan
What Types of Commercial Lease & Real Estate Cases We Handle?
Transactions involving real estate often result in disputes due to the high value of the dealings. It’s not uncommon for parties to disagree on the terms of their contracts. Sometimes, buyers realize that their real estate agent didn’t represent the property accurately, or they find damage that the seller should have disclosed during the trade.
Buyers aren’t the only ones affected. Sellers can also suffer wrongs, primarily when the buyer doesn’t fulfill their end of the bargain. Some buyers sign on to leases they can’t afford and cannot meet their financial commitment according to the lease terms.
Some types of commercial lease and real estate cases that Morgan & Morgan handles include:
Commercial Real Estate Leases
Commercial leases are typically very complex and contain numerous clauses that buyers and sellers must adhere to. If either party fails to live up to their end of the lease, it can result in a dispute.
Typically, a commercial lease gives the lessor and lessee certain rights and obligations. It establishes a payment schedule for the lessee and allows them to use the property for specific purposes. In turn, the lessor must ensure the property is maintained and adheres to particular property codes.
Commercial lease & real estate litigation lawyers in New York can help you in your commercial lease transaction. Our attorneys can help negotiate the terms of a commercial lease between the lessor and the lessee or assist either party in resolving a dispute.
Commercial Real Estate Closings
Anyone planning to buy or sell a commercial real estate property needs appropriate legal representation. The closing process for commercial properties is highly complex, involving contracts, title changes, and money exchange. Buyers must ensure that they are satisfied with the property’s condition before they take possession.
Problems often arise during the closing process. There may be misunderstandings of the contract terms or difficulties securing the title. Sometimes, the buyer may not obtain the promised funds, resulting in a commercial property deal that falls through.
If you are finalizing a commercial real estate closing, you’ll want an experienced attorney who can assist you with every step. Morgan & Morgan can ensure that your commercial real estate closing proceeds smoothly. If problems occur, we’re there to help you immediately.
Purchase and Sale Agreements
Purchase and sale agreements arise with both commercial and residential property. Whether you’re seeking to buy or sell a home on Long Island or a thirty-floor highrise in downtown Manhattan, Morgan and Morgan can help.
When buyers and sellers make a deal for a real estate purchase and sale, they must understand the terms of the agreement. Commercial lease & real estate litigation lawyers in New York can aid you in establishing the contract so both parties fully understand their responsibilities.
A purchase and sale agreement will include important information like the purchase price, the property included, and the timeline for completing the sale. It will also have specific protective clauses that protect both parties if the deal falls through.
Morgan & Morgan attorneys can assist you with ensuring that your purchase and sale agreement protects you in case the unexpected happens during the closing process.
Align Expectations Between Joint Owners
Since commercial real estate typically involves millions of dollars to purchase, many buyers form alliances with other buyers or entities to purchase a single property. Sometimes problems arise because the buyers don’t have the same expectations, especially regarding title issues.
Commercial lease & real estate litigation lawyers in New York can help you and your partners settle disputes concerning title and ownership expectations. We can also assist you in developing a contract that is fair to everyone who owns the property.
Another issue that commonly arises with joint owners is liability. Rather than holding the property outright, many individuals choose to form business entities like LLCs or corporations to protect them from potential litigation. Attorneys at Morgan and Morgan can recommend the best actions to take to protect your personal assets from future legal issues concerning the property.
Settle Disputes Concerning Condominiums and Cooperatives
Many investors in New York choose to purchase large apartment buildings that include multiple housing units. Often, they join forces with other investors to make the purchase.
However, disputes often arise between investors. The common areas of condominiums must be maintained appropriately, and determining who is responsible for the upkeep can be a dispute. Other issues occur concerning rent collection and administrative duties, like ensuring compliance with city and state codes.
Commercial lease & real estate litigation lawyers in New York can help investors resolve disputes and establish specific guidelines for the condominium or cooperative. Policies and bylaws can ensure everyone is on the same page, preventing future conflicts.
If you plan to change the purpose of an existing commercial real estate property or build a new one, you’ll likely encounter a lot of bureaucratic red tape. Zoning laws are notoriously difficult to handle, and you’ll need to speak with regulatory agencies to move forward with your project.
Attorneys at Morgan & Morgan can help you navigate zoning laws and ensure you comply. We will examine your property and the applicable codes so you know what your building must include to meet the zoning requirements.
While New York is full of commercial properties, building a new property for specific purposes sometimes makes sense. However, beginning construction isn’t as simple as drawing a blueprint and hiring a construction team. You’ll need to meet with regulatory agencies to ensure that your property aligns with local zoning laws.
In addition, finding funding for a new commercial construction property isn’t easy. Even if you already have the financing, you’ll need to establish an appropriate timeline for payments to construction companies and contractors. You’ll also need to designate the building materials and ensure they suit your building’s purpose.
Commercial lease & real estate litigation lawyers in New York can assist you with your construction plan and ensure that all parties have clear expectations for the building process.
Building Defect Disputes
Sometimes, parties finalize a real estate transaction only to find that the building has undisclosed defects. Under the law, sellers must disclose any known defects to buyers. If they fail to disclose defects, the contract may be invalid.
Buyers of commercial and residential property who find undisclosed defects will need the assistance of a real estate attorney. An attorney can review the fault and your purchase agreement to determine the appropriate steps for resolution.
Wrongful Conduct by Real Estate Agents or Brokers
Whenever you hire a real estate agent or broker, they must act in your best interests. If they fail to do so, they may be held liable for your financial losses.
An example of wrongful conduct by a real estate agent is failure to disclose an accurate income stream from a commercial property. Suppose that a real estate agent incorrectly tells you that a property's rent will exceed the cost of your monthly mortgage.
Once you purchase the property, you find monthly rents significantly below your mortgage. You must come up with the difference out of pocket. You may potentially hold the real estate agent liable for wrongful conduct in this case.
What Types of Damages Are Available in Real Estate Lawsuits?
There are three main types of damages available in real estate claims. They include vendor’s damages, purchaser’s damages, and specific performance. The damage awards aim to make the injured party financially whole again, as if the infraction had never occurred.
The vendor’s damages are appropriate when the seller suffers financial harm due to the purchaser’s actions or inactions. For instance, if the buyer fails to uphold their purchase agreement, they will need to compensate the vendor for their losses.
Purchaser’s damages occur when the buyer suffers some type of financial loss due to the seller's actions. For example, the buyer may receive damages if the seller fails to disclose defects in the property, resulting in the buyer needing to make significant repairs.
A court may order specific performance if one party fails to take action outlined in the purchase and sale agreement or lease. Orders for specific performance are typically rare, but they do occur if the contract is explicit in the actions and both parties are capable of execution.
How Long Do I Have to File a Lawsuit in a Real Estate Case?
Each state has a statute of limitations that restricts a party's time to pursue damages in court. Several statutes of limitations laws may apply to your case in New York.
If your case involves a breach of an oral or written contract, you have six years from the date of the breach to file a lawsuit. You must also file a case involving a mortgage or fraud within six years.
If your case involves property damage, you have three years to file a suit.
Commercial lease & real estate litigation lawyers in New York can help you determine the appropriate statute of limitations for your claim.
What Is My Real Estate Case Worth?
The value of your case will depend on the circumstances of your claim and your financial losses. An attorney can review your claim to determine the approximate damages. Remember that the purpose of the case is to make you financially whole again after suffering losses from a real estate transaction gone wrong.
Morgan & Morgan: Commercial Lease & Real Estate Litigation Lawyers in New York
Whether you are the purchaser or seller in a real estate transaction, the attorneys at Morgan and Morgan can assist you. Our qualified real estate litigation team has helped thousands of individuals and entities recover financial losses from failed real estate transactions. Contact us today to schedule your free case review.